An issue of shares made by the company to the public in general for subscription is called :

Which of the following statement is incorrect -

A private company is one which by its articles of association:

1. Restricts the right to transfer its shares
2. A private company must have at least 2 persons, except in case of one person company
3. Its paid up share capital is not more than Rs. 50 Lakhs
4. Limits the number of its members to 200 (excluding its employees)

Sahil, a share holder, failed to pay the money for second and final call of Rs. 20 on 1,000 shares issued to him at Rs. 120 (face value of Rs. 100 per share). His shares were forfeited after the second and final call. Which is correct about share forfeiture:

Which section of the Company's Act defines/describes Equity and Preference Shares?

Money received in advance from shareholders before it is actually called-up by the directors is :

Security Premium Reserve can be used by Hero Ltd. for

Securities Premium can be used only for the following purposes:

A. To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company;

B. To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

C. To write-off the expenses of, or commission paid, or discount allowed on any securities of the company; and

D. Purchase of its own shares (i.e., buy back of shares)

Choose the correct answer from the options given below: